Six former city workers who were convicted of rate-rigging have had their convictions quashed after new evidence came to light. The individuals were originally found guilty of manipulating the London interbank offered rate (Libor), a key interest rate used in financial markets around the world.
The convictions were overturned by the Court of Appeal after it was revealed that crucial evidence had not been disclosed during the original trial. The new evidence called into question the reliability of the prosecution's key witness, a former trader who had cooperated with authorities in exchange for immunity.
The rate-rigging scandal had rocked the financial industry and led to billions of dollars in fines for major banks. The accused individuals were part of a group of traders who allegedly conspired to manipulate Libor for their own financial gain.
The quashing of these convictions has raised concerns about the fairness of the original trial and the reliability of witness testimony in high-profile cases. The individuals have been released from prison pending a possible retrial.
The case highlights the challenges of prosecuting financial crimes in a complex and globalized industry, where evidence and witnesses can be difficult to verify.
Category: World
Published on: 2025-07-28 14:21:29
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Tags: city rate-rigging convictions quashed
The Democratic Republic of Congo is facing escalating conflict as the M23 rebels, backed by the Rwandan army, make a bold move to capture the city of Goma. The situation on the ground is tense, with reports of heavy fighting and casualties pouring in.
The Rwandan army's involvement has raised concerns about the region's stability, as neighboring countries get embroiled in the DRC's internal strife. The rebels have been accused of human rights abuses in the past, further complicating the situation.
The international community is closely monitoring the developments in Goma, with calls for a peaceful resolution to the conflict. The DRC army is bolstering its defenses, determined to prevent the rebels from taking control of the city.
As the fighting intensifies, civilians in Goma are fleeing their homes, seeking refuge from the violence. The United Nations and aid agencies are on high alert, ready to assist those affected by the conflict.
The fate of Goma hangs in the balance, as the Rwandan army and M23 rebels continue their advance. The world waits anxiously for a resolution to the crisis in the DRC.
Category: World
Published on: 2025-01-28 20:03:24
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Fighting between DRC army and M23 rebels rages in eastern city of Goma, The Guardian
DRC conflict: M23 rebels enter Goma after claiming capture of city – live, The Guardian
Rwandan army ‘ready to invade DRC’ and help rebels seize city, The Guardian